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Silence is Golden: Railroad Noise Pollution and Property Values

Author

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  • Kay K. Walker

    (Department of Economics and Finance, Niagara University)

Abstract

This paper uses a unique dataset containing property values and manually collected noise measurements in Memphis, Tennessee to estimate the impact of train noise pollution on commercial and residential property values. Results show that a residential property exposed to 65 decibels or greater of railroad noise results in a 14 to 18 percent decrease in property value. Once a 65 decibel measure is included, there is no additional impact on price of distance to the closest railroad crossing. For commercial property, neither crossing proximity nor noise level significantly affect property value. The results provide evidence of a negative externality that is created by railroad noise for households and the need for more exact measures of noise levels. The findings are also consistent with previous literature suggesting firms have different ideas than individuals about desirable locational attributes.

Suggested Citation

  • Kay K. Walker, 2016. "Silence is Golden: Railroad Noise Pollution and Property Values," The Review of Regional Studies, Southern Regional Science Association, vol. 46(1), pages 75-89, Winter.
  • Handle: RePEc:rre:publsh:v46:y:2016:i:1:p:75-89
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    Citations

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    Cited by:

    1. Huang, Zhonghua & Du, Xuejun, 2021. "How does high-speed rail affect land value? Evidence from China," Land Use Policy, Elsevier, vol. 101(C).
    2. Wagner, Gary A. & Komarek, Timothy & Martin, Julia, 2017. "Is the light rail “Tide” lifting property values? Evidence from Hampton Roads, VA," Regional Science and Urban Economics, Elsevier, vol. 65(C), pages 25-37.
    3. Schmidt, Adam & Bardaka, Eleni & Thill, Jean-Claude, 2022. "Causal, spatiotemporal impacts of transit investments: Exploring spatial heterogeneity from announcement through long-run operation," Transportation Research Part A: Policy and Practice, Elsevier, vol. 161(C), pages 151-169.

    More about this item

    Keywords

    property value; railway noise pollution; externalities;
    All these keywords.

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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